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US stock futures plunged sharply today, indicating further losses on Wall Street, following China's announcement of new tariffs in retaliation to the Trump administration's recent levies, which have already wiped $2.4 trillion from US equities. In India, the NSE Nifty 50 and BSE Sensex mirrored this decline amid growing concerns over global trade stability. Harvard professor Lawrence H. Summers described the market's downturn as the worst in five years, attributing it to unprecedented policy responses rather than external crises. Critics have pointed out that Trump's Truth Social platform sold stock just before the tariffs were announced, raising ethical questions. Meanwhile, layoffs in the US surged by 205% in March, exacerbating fears over the economic impact of Trump's trade war. Despite the turmoil, Trump remains optimistic, asserting that the market will rebound, while announcing additional import duties set to take effect soon. 
Published: Apr 04 2025, 6 pmeznews.inA tragic helicopter crash in New York’s Hudson River claimed the lives of a Spanish family celebrating a birthday, along with the pilot, on Thursday. The family, including a senior business executive, Agustin Escobar, his wife Merce Camprubi, and their three children, aged 11 and younger, were taking a sightseeing flight over Manhattan for the mother’s 40th birthday. The helicopter reportedly malfunctioned mid-air, disintegrating before plunging into the river. Jersey City Mayor Steven Fulop confirmed that all six victims' bodies were recovered, and a family member is en route to claim them for repatriation to Spain. The National Transportation Safety Board is investigating the incident, with preliminary assessments indicating potential mechanical failure or excessive maneuvering as causes. Mayor Eric Adams described the event as “heartbreaking and tragic,” while calls for stricter helicopter regulations in the city have intensified following the incident.
Published: Apr 11 2025, 7 pmeznews.inPope Francis, 88, is experiencing improved health following a battle with life-threatening pneumonia, but the Vatican has stated it is too early to confirm his participation in Easter celebrations. This week, the pope made several unscheduled appearances, including a surprise visit to Saint Peter's Basilica, where he greeted tourists while seated in a wheelchair and dressed in a long-sleeved top and poncho instead of his traditional vestments. Vatican spokesman Matteo Bruni noted that the pope was "happy" to be out and about, despite doctors advising him to rest. His recent activities also included a private audience with King Charles III and Queen Camilla. While Bruni acknowledged the improvements in Francis's voice and mobility, he cautioned that decisions regarding Holy Week will depend on both the pope's health and the weather conditions.
Published: Apr 11 2025, 6 pmeznews.inSteve Witkoff, President Trump's diplomatic envoy, has arrived in Russia to revive stalled negotiations regarding the Ukraine conflict, with the Kremlin confirming his visit, though a meeting with President Vladimir Putin remains uncertain. This marks Witkoff's third engagement with Putin since efforts began to improve US-Russia relations. Amid escalating tensions, Trump expressed frustration over the lack of progress and hinted at potential sanctions against Russia if a ceasefire is not achieved by month-end. Witkoff recently hosted Putin's envoy Kirill Dmitriev in Washington, and while Ukraine has accepted Trump's proposal for an unconditional ceasefire, Russia has introduced new demands, including the lifting of US sanctions. A notable development includes a prisoner exchange that saw the release of dual US-Russian citizen Ksenia Karelina, which Trump credited to UFC CEO Dana White's advocacy. Witkoff's visit signifies a shift in US diplomacy, contrasting with the Biden administration's previous stance of severing ties with Putin.
Published: Apr 11 2025, 6 pmeznews.inChina is poised to unveil the Huajiang Grand Canyon Bridge in June, a remarkable structure that stretches two miles across a vast canyon and stands at 2,050 feet, making it the tallest bridge in the world. The £216 million project will drastically cut travel time from one hour to just one minute, significantly enhancing connectivity in the rural Guizhou region. Chinese politician Zhang Shenglin hailed the bridge as a demonstration of China's engineering prowess and a catalyst for tourism. Chief Engineer Li Zhao expressed pride in witnessing the bridge's construction, which features steel trusses weighing 22,000 metric tonnes—equivalent to three Eiffel Towers—installed in just two months. Besides improving transport links, the bridge will become a major tourist attraction, with plans for living areas, a glass walkway, and the world's highest bungee jump. The region already hosts nearly half of the world's tallest bridges, underscoring China's commitment to infrastructure development.
Published: Apr 11 2025, 6 pmeznews.inHundreds of thousands of residents in Gaza City are facing a severe water crisis after Israeli military operations cut off supplies from the Mekorot water utility. The ongoing bombardment, particularly in the Shejaia neighbourhood, has damaged vital pipelines, leaving many to walk long distances for limited water access. With municipal authorities reporting that Mekorot previously supplied 70% of the city's water, the situation has become dire, as most of Gaza's 2.3 million people are now internally displaced. Water for drinking, cooking, and sanitation has become increasingly scarce, with residents queuing for hours for insufficient supplies. The Palestinian Water Authority has indicated that over 85% of water facilities in Gaza are non-operational, and the remaining wells are often contaminated. The World Health Organization states that current water provision is drastically below emergency survival standards, exacerbating the humanitarian crisis amid ongoing conflict.
Published: Apr 11 2025, 6 pmeznews.inPolice in Nepal have arrested Durga Prasai, the alleged leader of the violent pro-monarchy protests in Kathmandu on March 28, which resulted in two fatalities. Prasai was apprehended in Jhapa district, near the Indian border, along with his bodyguard, and faces charges of state offences and organised crime. Reports indicate he was initially detained in Assam, India, before being handed over to Nepalese authorities, despite the lack of an extradition treaty between the two nations. The protests, which have also seen over 60 arrests—including prominent figures from the Rastriyia Prajatantra Party (RPP)—have called for the reinstatement of the monarchy and the recognition of Nepal as a Hindu state. The RPP is now demanding the release of its detained leaders, following the abolition of the monarchy in 2008, which transformed Nepal into a secular, federal democratic republic.
Published: Apr 11 2025, 3 pmeznews.inTensions are brewing at the White House following President Donald Trump's recent announcement of reciprocal tariffs affecting nearly all countries, with notable dissent from Elon Musk, a key ally. Musk expressed concerns particularly regarding tariffs on European trade partners, prompting a public clash with Peter Navarro, Trump's senior trade advisor. Navarro accused Musk of prioritizing his own interests over national benefits, suggesting that the Tesla CEO's opposition to tariffs stems from their potential impact on his company, which relies on international supply chains. In a Fox News interview, Navarro remarked that while Musk excels in his domain, his focus is skewed towards protecting Tesla. Musk, for his part, has criticized Navarro's Harvard education, implying it contributes to overconfidence in economic matters. Meanwhile, Musk advocated for the elimination of tariffs to foster a free trade zone between Europe and the US, citing the benefits of unrestricted labor mobility.
Published: Apr 11 2025, 3 pmeznews.inSenator Mark Warner, the leading Democrat on the U.S. Senate Intelligence Committee, has raised concerns that a new task force established by Director of National Intelligence Tulsi Gabbard is conducting a "witch hunt" against intelligence officers considered disloyal to President Donald Trump. In an interview with Reuters, Warner criticized Gabbard for failing to brief him on the initiative, which he believes could jeopardize national security, though he did not provide specific evidence for his claims. Gabbard's spokesperson countered that the task force, known as the Director's Initiative Group (DIG), has been transparent about its goals, which include restoring accountability within intelligence agencies and investigating alleged politicization. Gabbard has stated that DIG is addressing issues like unauthorized disclosures and is preparing to release files related to historical assassinations and the origins of COVID-19. Warner called for a review of the Office of the Director of National Intelligence's expansion since its establishment in 2005.
Published: Apr 11 2025, 3 pmeznews.inAs financial markets fluctuated amid economic uncertainties and policy changes, including President Trump's abrupt tariff announcements, wealthy investors largely remained calm, contrasting with the anxiety seen among institutional players. High-net-worth individuals took a long-term view, engaging in tax planning and capitalizing on market dips rather than panicking. Wealth management executives noted that their affluent clients, equipped with substantial cash reserves, were focused on strategic planning rather than emotional responses. Strategies such as funding grantor-retained annuity trusts, executing Roth conversions, and tax-loss harvesting were highlighted as opportunities. While family office clients began "layering in" to the market, some expressed concerns over the risks associated with private credit investments. UBS noted a split in client sentiment influenced by political factors, with many wealthy individuals taking profits earlier in the year, allowing them to buy during market downturns. Overall, the ultra-wealthy exhibited resilience, using their liquidity to navigate the volatility.
Published: Apr 11 2025, 1 pmeznews.inChina announced on Friday it would raise tariffs on US goods to 125% from 84%, a move that follows President Donald Trump’s recent increase of tariffs on Chinese imports to 145%. This escalation marks a significant intensification of the ongoing trade war between the two economic giants. Beijing's State Council Tariff Commission condemned the US tariffs as violations of international trade norms and stated that it would "ignore" any further tariff increases, arguing that US goods no longer make economic sense for importers. Chinese President Xi Jinping, during a meeting with Spanish Prime Minister Pedro Sanchez, urged the European Union to collaborate with China against what he termed "unilateral bullying" by the US. He emphasized that tariff wars yield no winners and called for joint efforts to maintain international fairness. The situation continues to evolve as Trump expressed optimism about a potential deal with China, praising Xi as a "smart man" capable of navigating the crisis.
Published: Apr 11 2025, 2 pm
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